Banks in Punjab, Haryana near completing financial inclusion
Banks in Punjab and Haryana are geared up to implement ' Pradhan Mantri Jan Dhan Yojana' launched by Prime Minister Narendra Modi on August 15, 2014.
Having already covered over 95% households in rural and urban areas under the existing financial inclusion plan in Punjab and Haryana, bankers expects that the remaining households in these two states will be covered very soon.
In order to achieve the target in a time bound manner, the banks have been allocated wards in urban areas and sub service area in rural areas by the convener bank in these two states.
According to SLBC (State Level Bankers Committee) data in Punjab, 95.72% of the total rural households (as per 2001 census) were covered as on June 30, 2014 under financial exclusion plan.
As far urban areas were concerned it was 95.55%. As per 2001 census, 1.50 lakh households in rural areas and 0.93 lakh households in urban areas is yet to be covered in the state.
As far Haryana is concerned, under the existing financial exclusion plan 95.25% households or families in rural areas and 98.28% households in urban areas have been covered. Besides, 1.30 lakh families in rural areas and 0.24 lakh families in urban areas are yet to be covered.
It is worth mentioning that as per the comprehensive financial inclusion plan launched by Union government on August 15, 2014 , two accounts per households (one for the male member and other for female) are to be opened by banks both in rural in urban areas.
A senior banker mentioned that the list of households both in the rural and urban areas as per census 2011 has been provided by lead district managers (LDMs) of the bank by the district administration and the respective state governments will facilitate the banks in implementing the plan in letter and spirit.
He added that LDMs were requested to arrange to provide the details of each branch for early coverage of all the households. For ensuring opening of 2 accounts per family camps will be organised by bank branches in the each district.
He added that banks have been allocated wards in urban areas and sub service area in rural areas by the Convener bank in these two states for effective implementation of the plan.
Addressing the SLBC meet in Chandigarh Gauri Shankar, Executive Director, Punjab National Bank informed that financial inclusion has very important role to play in achieving Inclusive Growth of our economy.
The Department of Financial Services, MoF, GoI, has drawn a comprehensive Financial Inclusion Plan to be implemented in Mission mode in two phases from 15thAugust 2014. This plan envisages provision of affordable financial services to all citizens within a reasonable distance.
It comprises of six pillars In the first phase four pillars i.e. Universal access to banking facilities, Financial Literacy programme, Providing Basic Banking account with overdraft facility and Rupay Debit Card, 7 creation of credit Fund would be given thrust and remaining 2 pillars i.e. Micro Insurance & Unorganised sector like pension scheme Svalamban would be given thrust in second phase.
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Banks in Punjab and Haryana are geared up to implement ' Pradhan Mantri Jan Dhan Yojana' launched by Prime Minister Narendra Modi on August 15, 2014.
Having already covered over 95% households in rural and urban areas under the existing financial inclusion plan in Punjab and Haryana, bankers expects that the remaining households in these two states will be covered very soon.
In order to achieve the target in a time bound manner, the banks have been allocated wards in urban areas and sub service area in rural areas by the convener bank in these two states.
According to SLBC (State Level Bankers Committee) data in Punjab, 95.72% of the total rural households (as per 2001 census) were covered as on June 30, 2014 under financial exclusion plan.
As far urban areas were concerned it was 95.55%. As per 2001 census, 1.50 lakh households in rural areas and 0.93 lakh households in urban areas is yet to be covered in the state.
As far Haryana is concerned, under the existing financial exclusion plan 95.25% households or families in rural areas and 98.28% households in urban areas have been covered. Besides, 1.30 lakh families in rural areas and 0.24 lakh families in urban areas are yet to be covered.
It is worth mentioning that as per the comprehensive financial inclusion plan launched by Union government on August 15, 2014 , two accounts per households (one for the male member and other for female) are to be opened by banks both in rural in urban areas.
A senior banker mentioned that the list of households both in the rural and urban areas as per census 2011 has been provided by lead district managers (LDMs) of the bank by the district administration and the respective state governments will facilitate the banks in implementing the plan in letter and spirit.
He added that LDMs were requested to arrange to provide the details of each branch for early coverage of all the households. For ensuring opening of 2 accounts per family camps will be organised by bank branches in the each district.
He added that banks have been allocated wards in urban areas and sub service area in rural areas by the Convener bank in these two states for effective implementation of the plan.
Addressing the SLBC meet in Chandigarh Gauri Shankar, Executive Director, Punjab National Bank informed that financial inclusion has very important role to play in achieving Inclusive Growth of our economy.
The Department of Financial Services, MoF, GoI, has drawn a comprehensive Financial Inclusion Plan to be implemented in Mission mode in two phases from 15thAugust 2014. This plan envisages provision of affordable financial services to all citizens within a reasonable distance.
It comprises of six pillars In the first phase four pillars i.e. Universal access to banking facilities, Financial Literacy programme, Providing Basic Banking account with overdraft facility and Rupay Debit Card, 7 creation of credit Fund would be given thrust and remaining 2 pillars i.e. Micro Insurance & Unorganised sector like pension scheme Svalamban would be given thrust in second phase.
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